The S&P 500 gained 3.1% this week after rising 0.6% to 2,259.53 today, while the Dow Jones Industrial Average rose 3.1% this week after gaining 142.04 points, or 0.7%, to 19,756.85. The Nasdaq Composite climbed 3.6% this week after advancing 0.5% to 5,444.50 today. All three indexes hit record highs.

Was the latest data on its experimental Alzheimer’s drug good news for Biogen (BIIB)? It’s a legitimate question given how the drug maker’s stock has performed today.

At a recent $287.18, the shares are down 0.8%, giving back earlier gains. The stock had at one point climbed more than 6% to just under $307 a share.

What gives? To be sure, there is certainly some “sell the news” going on here. But there are also safety questions that need to be addressed following news that one patient in the Biogen study experienced a treatment related seizure and a loss of pulse.

FBR’s Thomas Curran and Mark Kelley contend that for offshore drillers like Ensco (ESV), Transocean (RIG), Rowan (RDC), and Atwood Oceanics (ATW), the “cycle will not turn” until late 2017 at the earliest:

After watching General Electric (GE) and Baker Hughes (BHI) explain the case for their merger, Bernstein’s Colin Davies and team argue that the combined company ” has the potential to challenge Schlumberger (SLB) but it’s a long term game.” They explain:

After meeting with General Motors (GM) CFO Chuck Stevens, JPMorgan analyst Ryan Brinkman and team write that they are “even more concerned that Tesla will have a difficult time realizing its profit objectives in the increasingly competitive market for electric vehicles.” They explain why:

About Stocks To Watch

Earnings reports, corporate strategies and analyst insights are all part of what moves stocks, and they’re all covered by the Stocks to Watch blog. We also look at macro issues, investor sentiments and hidden trends that are affecting the market. Stocks to Watch gives you the full picture of the U.S. stock markets, all day long.

The blog is written by Ben Levisohn, a former stock trader who has covered financial markets for the Wall Street Journal, Bloomberg and BusinessWeek.